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PROPERTY INFO
FACTS
- Single Family
- Built In 2021
- Price/Sqft : $237.74
- 6 Days on Market
- MLS # : 14511427
- Updated Date : 02/02/2021 at 19:00
CONSTRUCTION
- Beds : 3
- Floor Size : 2,103 sqft
- Baths : 2 full , 1 half
Listing Agent
Highland Homes Realty
Listing Agent's Description
MLS# 14511427 - Built by Highland Homes - February completion! ~ Gorgeous Award-Winning Floorplan. Soaring ceilings throughout and tall windows to embrace natural light. Currently sitting on the corner of a cul-da-sac, this stunning home is filled with popular designer upgrades. Light colored floors, contrasted with 2-tone kitchen cabinets and built-in double ovens. Stone fireplace stacked to ceiling, noir lighting package and so much more. Tons of privacy!!!
SEE MORE
- Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
- Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
- . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
- # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
- Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
- Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
PRICE & RENT TRENDS
Neighborhood: McKinney
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: McKinney
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,860 |
| EXPENSES | Loan Payment | -$1,737 |
| Property Tax | -$942 | |
| Property Insurance | -$149 | |
| HOA | -$58 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$1,123
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.
$499,963
PROJECTED PRICE
$1,860
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.94% |
| Appreciation Year (1-5) | 7.3% |
| Maintenance Year (1-5) | 3.00% |
| Vacancy | 6.93% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$134,490
LOAN DETAILS
$1,737
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $124,991 |
| Loan Amount | $374,972 |
-0.25
YEARS SAVED
-$77
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,860
LIST RENT -
$0.88
LIST RENT PER SQFT
-
$1,887
COMP ESTIMATED VALUE -
$0.9
COMP AVG. RENT PER SQFT
Comps Range
-
4129 Sweet Birch Drive Mckinney, TX 3
- 3 beds 3 baths ∙ 2,103 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,103 Sqft ∙ Built 2021
- Rent
- Rent Per SQFT
- $1,860
- $0.88
-
2620 Clear Brook Drive Mckinney, TX 1
- 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2003
LEASED 02/22/20- Rent
- Rent Per SQFT
- $1,650
- $0.79
-
3209 Timber Ridge Trail Mckinney, TX 2
- 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,005 Sqft ∙ Built 2006
LEASED 02/11/20- Rent
- Rent Per SQFT
- $1,795
- $0.90
-
2833 Bentwood Way Mckinney, TX 4
- 3 beds 2 baths ∙ 2,094 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,094 Sqft ∙ Built 2005
LEASED 10/13/20- Rent
- Rent Per SQFT
- $1,950
- $0.93
-
2813 Fair Timber Way Mckinney, TX 5
- 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 2007
LEASED 07/27/20- Rent
- Rent Per SQFT
- $2,100
- $0.97
PROPERTY LISTING DETAILS
Highland Homes Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14511427
Last Updated: 02/02/2021
